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enter image description hereI am having troubles answering to these following questions since the utility function is not a Cobb Douglas function, I am not sure about the results I need to find fo Hicksian and warlasian demand functions. For the 4th question I guess I need to find wealth compensation = wealth before- w with new price ?

Thank you so much,

you can find the exercice attached but just in case the utility function is the following:

U(x1,x2) = ln(x1) + 2 * x2 

I found xi=hi where x1(p,w)= p1/(2*p2)and x2(p,w)= (w/2)-(1/2)

enter image description here

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  • $\begingroup$ Would be nice if you type the question out instead of pasting an image, so that other people can search. Also, you can use $\LaTeX$ formatting in your question as well. $\endgroup$ – Art 21 hours ago

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